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Kuwait’s MENA unsure if Egypt investments hurt by crisis

MENA's investments in Egypt represent 78 percent of the firm's assets.


January 31, 2011 1:27 by

Kuwait’s MENA Holding Co  said it is difficult to determine if the recent events in Egypt affected its 235.4 million dinars ($839.8 million) investments in the North African country.

MENA’s investments in Egypt represent 78 percent of the firm’s assets, it said in a statement on the Kuwaiti bourse website on Monday.

“It is currently difficult to know whether these events affected these assets,” MENA said.

Officials at the company could not be immediately reached for comment.

Six days of unrest in Egypt has killed more than 100 people, rocked the Middle East and rattled global investors.

MENA’s shares closed 1.5 percent higher on the Kuwait bourse Monday.

(Reporting by Eman Goma; Editing by Dinesh Nair)


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